Morning briefing

By The Times-Union,

Publix's Jacksonville vice president to retire

Jesse Benton, vice president of Publix Super Market's Jacksonville division, said he will retire in mid-October after 44 years with the Lakeland-based supermarket chain. Benton, who was not available for comment yesterday, is stepping down "to spend more time with his wife and family," said Publix spokesman Dwaine Stevens.

Benton joined Publix in 1959 as a clerk in Gainesville, and was promoted to vice president of the Jacksonville division in 1988.

Taking his place overseeing Publix supermarkets throughout north Florida, Georgia and South Carolina is Todd Jones, who currently serves as regional director for the Jacksonville division.

Landstar System files to reduce earnings

Landstar System Inc. disclosed yesterday in a filing with the Securities and Exchange Commission that its third-quarter earnings will be reduced by $2.03 million and its earnings for the first nine months of this year will be reduced by $2.65 million because of a lawsuit settlement.

The lawsuit was filed in federal court in Alabama two years ago by Gulf Bridge RoRo Inc. and involved a contract between a Landstar subsidiary and Gulf Bridge. Landstar said in the SEC filing that it denies all claims made by the plaintiff but agreed to a settlement to avoid the cost of protracted litigation.

Landstar said its total cost to defend and settle the lawsuit, net of insurance recoveries, has been $4.15 million.

Atlantic BancGroup changes Nasdaq listing

Atlantic BancGroup Inc., the parent company of Oceanside Bank, said yesterday it is now listed on the Nasdaq SmallCap market, trading under the symbol ATBC.

It had been listed on Nasdaq's OTC Bulletin Board, but the new listing should bring it more visibility in the local and financial communities, said Barry Chandler, president and CEO of the Jacksonville Beach-based Atlantic BancGroup.

The move also makes the stock easier to trade, he said. But he acknowledged the stock would likely not rocket up to the top of the trading charts.

"Believe me, there aren't tens of thousands of people lined up out there to buy or sell our stock -- maybe 10," he said. "We're just a small community bank."

Oceanside, which owns three Beaches banks, is building a fourth at Atlantic and Kernan boulevards that is set to open by early December.

Retail sales edge up in August, following binge

After splurging in July, America's shoppers spent more modestly in August amid higher energy prices and job losses.

Sales at the nation's retailers rose by 0.6 percent last month, following a brisk 1.3 percent sales increase registered in July, the Commerce Department reported yesterday.

Although August's sales performance was weaker than the 1.5 percent gain that economists were forecasting, analysts said consumers are still spending at a healthy pace and are keeping their wallets and pocketbooks sufficiently open to help along the economy's recovery.

President seeks money to oversee Freddie Mac

Amid accounting troubles at Freddie Mac, President Bush yesterday asked Congress to approve a $7.5 million boost for supervising and investigating the mortgage giant and its sister agency Fannie Mae.

The move came two days after Treasury Secretary John Snow asked lawmakers for a stronger government hand over the two companies through creation of a new regulatory agency in his department.

The new regulator would replace the Office of Federal Housing Enterprise Oversight, the small agency within the Department of Housing and Urban Development that now oversees government-sponsored yet publicly traded Fannie Mae and Freddie Mac.